Legal Question in Wills and Trusts in New York

Executor's Commissions

Section 2507 Surrogate's Court Procedure Act

Except as otherwise provided in paragraph (f) of this subdivision

on the settlement of the account of any fiduciary other than a trustee

the court must allow to him the reasonable and necessary expenses

actually paid by him and if he be an attorney of this state and shall

have rendered legal services in connection with his official duties,

such compensation for his legal services as appear to the court to be

just and reasonable and in addition thereto it must allow to the

fiduciary for his services as fiduciary, and if there be more than one,

apportion among them according to the services rendered by them

respectively the following commissions:

(a) For receiving and paying out all sums of money not exceeding

$100,000 at the rate of 5 percent.

(b) For receiving and paying out any additional sums not exceeding

$200,000 at the rate of 4 percent.

(c) For receiving and paying out any additional sums not exceeding

$700,000 at the rate of 3 percent.

(d) For receiving and paying out any additional sums not exceeding

$4,000,000 at the rate of 2 1/2 percent.

(e) For receiving and paying out all sums above $5,000,000 at the rate

of 2 percent.